? Cool Title, but what’s the news?
Prices of daily use products will increase by about 5-8% starting third quarter while some have already increased prices in line with multiple inflationary pressures including all-time high petrol prices, hike in minimum support price (MSP) for farmers, and some commodity prices showing upwards movement, large companies said.
? Okay, but what does it mean?
A recent report by Jefferies said its channel checks suggest that consumer goods giant Hindustan UnileverNSE 1.32 % has taken price hikes in detergents, skin care and select soap brands in the 5-7% range last month.
Parachute hair oil and Saffola edible oil maker MaricoNSE 0.48 % undertook a price increase in its value added hair oil portfolio by 7% while oral care maker Colgate Palmolive increased prices in some of its brands by 4% last month.This will be the highest prices hike for many companies in two years.